Better Choice To Sell Halo Business To Asian Partner CZC, Stock Up In Pre-market

(RTTNews) - Better Choice Co., Inc. (BTTR), a pet health and wellness company, Wednesday announced that it has signed a definitive agreement with its existing partner in Asia, CZC Company Ltd., to sell its Halo business for total gross proceeds of $8.1 million.

Shares of Better Choice are increasing by 5% in the pre-market trading.

The deal included a $6.5 million cash payment at closing and a 3 percent royalty on sales for five years, with a guaranteed minimum payment of $330,000 per year or $1.65 million in total.

The deal is expected to close by April 2025.

In the pre-market trading, Better Choice is 4.63% higher at $2.26 on the New York Stock Exchange.